All Categories > Frequently asked questions > Applying for a home loan > What happens after I have applied?

What happens after I have applied?

After you’ve applied, you will receive an answer straight away: ‘yes’, ‘no’ or ‘we need more time’.

If it’s a ‘yes’

You have received full approval. All that remains is for you to sign the documents and complete the settlement process.

If it’s a ‘no’

There are many reasons we might have to decline your application.

We will notify you as soon as possible if your application is declined so that you can continue your search for a home loan. Factors that may impact your application are address eligibility, your credit history, your status as an Australian citizen or permanent resident, and your financials.

If your application has been declined, it may just mean that a Qantas Money Home Loan is not the right home loan for you or your property at the present time. Please don’t hesitate to apply again in the future.

If it’s a ‘we need more time’

If we need more information, we’ll refer your application to a Qantas Money Home Loan expert who may contact you via phone on 02 9191 5803. They will help to finalise the assessment of your application. Remember, if you are proactive and respond quickly to requests for more information, your application can still be completed quite quickly.

Our team may only need one to two documents, such as updated payslips or a bank account statement. If your situation is more complex, they might ask you to provide more detail. If you’ve chosen to validate your financials manually, they’ll typically need to request more information from you, so it will take longer to assess your application. By choosing digital validation, we receive the same information, only faster.

After full approval, here's generally how it works:

If you’re buying a property to live in, we pay the seller the agreed price and your home loan begins on your agreed settlement date. You’ll also need to take care of building insurance for your new property, organising for the utilities to be switched over on settlement day and having your mail redirected.

If you’re refinancing, we pay out your existing lender and your new loan begins.

For an opportunity to bring home even more Qantas Points on your home insurance, get a quote from Qantas Insurance. Find out more.

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